MONEY & BANKING
FOREX
Forex reserves climb $980 million
THE foreign exchange (forex) reserves have gone up by $980 million for the week ended October 22. It was after a gap of nearly three months that the forex kitty witnessed a substantial accretion in a single week, said a forex analyst. The rise ...
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FINANCIAL PERFORMANCE
SBI Q2 net rises 9.42 pc on growth in advances
A SIGNIFICANT growth in advances coupled with lower provisioning helped State Bank of India report a 9.42 per cent rise in net profit at Rs 1,081.89 crore for the second quarter ended September 30, 2004, as against Rs 988.78 crore in the year ...
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IOB net up at Rs 158 cr; to pay 14 pc interim
INDIAN Overseas Bank has reported a net profit of Rs 158.33 crore for the quarter ended September against Rs 154.62 crore in the corresponding quarter last year. The bank has declared an interim dividend of Rs 1.40 per share (14 per cent), the ...
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Federal Bank H1 net slips 38 pc
THE net profit of the Aluva-based Federal Bank has fallen by 38 per cent to Rs 48.22 crore (Rs 77.73 crore) during the first half of the current fiscal. The results were adopted by the board, which met in Kochi on Saturday. The bank has moved ...
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CREDIT MARKET
Bank credit up by Rs 35,113 cr
BANK credit surged by over Rs 35,113 crore to Rs 9,71,018 crore for the fortnight ended October 15, according to RBI data released on Saturday. Non-food credit jumped by Rs 37,792 crore to touch Rs 9,35,058 crore while food credit declined by Rs ...
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FIXED DEPOSITS
SBI deposits up
STATE Bank of India's deposits grew by 9.34 per cent to Rs 3,37,684 crore as on September 30, from Rs 3,08,849 crore in the corresponding period the previous year. Excluding Resurgent India Bonds (RIB) and India Millennium Deposits (IMD), ...
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MERGERS & ACQUISITIONS
Unequal advantage for foreign banks
QUOTE the Finance Minister, Mr P. Chidambaram in Mumbai: Government is open to foreign banks acquiring 10 per cent stake per year in Indian private banks to enable a buy-out in 3 to 4 years. Can the foreign bank effecting the buy-out continue ...
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Cross Currency Rates
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